News - 11 April 2018

Indonesia targets Rp 6.75t in business deals at IAF

Vice President Jusuf Kalla (center), accompanied by Coordinating Maritime Affairs Minister Luhut Pandjaitan (right), speaks to participants of the Indonesia-Africa Forum (IAF) in Nusa Dua, Bali, on the sidelines of the opening ceremony of the event on April 10. (JP/ Nyoman Budhiana)

Vice President Jusuf Kalla says the government is eyeing Rp 6.75 trillion (US$472.5 million) in business deals with partners from Africa at the Indonesia-Africa Forum (IAF) 2018 in Nusa Dua, Bali, from April 8 to 11.

“I hope that during the two-day forum, Indonesia and Africa will be able to map out their future economic cooperation,” said Kalla on Tuesday in his opening speech at the event attended by about 500 people from 53 African countries and Indonesia as quoted by kompas.com.

Kalla expressed the hope that the forum could boost economic cooperation in various sectors such as infrastructure, strategic industries and financing.

He also stressed the importance of boosting trade between Indonesia and African countries, which was recorded at US$8 billion in 2017, the figure of which was a 15 percent increase from 2016.

 Although the value was relatively small, Kalla said there had been a significant increase in trade between Indonesia and several Asian countries – 284 percent with Liberia, 268 percent with Comoros, 215 percent with Gabon, 105 percent with Togo, 105 percent with Burundi and 100 percent with Cabo Verde.

Kalla said Indonesia needed various commodities such as crude oil, cotton and cocoa from Africa, while African countries needed CPO, motorcycles and instant noodles from Indonesia.

According to Kalla, about 30 Indonesian companies, including those running in textile and pharmacological manufacturing businesses as well as in energy supply, operated in African countries. (bbn)

The Jakarta Post